JPMorgan Chase & Co. Has Lowered Expectations for Rogers Communications (TSE:RCI.B) Stock Price

Rogers Communications (TSE:RCI.B - Free Report) NYSE: RCI had its target price decreased by JPMorgan Chase & Co. from C$57.00 to C$53.00 in a research note released on Thursday morning,BayStreet.CA reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

RCI.B has been the subject of several other research reports. UBS Group reduced their target price on shares of Rogers Communications from C$66.00 to C$63.00 in a research note on Tuesday, April 1st. Canaccord Genuity Group decreased their target price on Rogers Communications from C$55.00 to C$46.00 in a research report on Tuesday, January 7th. TD Securities reduced their target price on Rogers Communications from C$64.00 to C$62.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Royal Bank of Canada lowered their price target on shares of Rogers Communications from C$66.00 to C$61.00 and set an "outperform" rating for the company in a report on Wednesday, December 18th. Finally, Barclays cut Rogers Communications from an "overweight" rating to an "equal weight" rating and decreased their price objective for the stock from C$63.00 to C$39.00 in a report on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Rogers Communications has a consensus rating of "Moderate Buy" and an average price target of C$56.31.

Rogers Communications Trading Down 3.2 %

RCI.B stock traded down C$1.12 during midday trading on Thursday, hitting C$34.11. 2,537,897 shares of the company's stock were exchanged, compared to its average volume of 2,241,406. The business has a 50-day simple moving average of C$39.61 and a two-hundred day simple moving average of C$45.79. Rogers Communications has a 1-year low of C$33.84 and a 1-year high of C$56.55. The company has a current ratio of 0.65, a quick ratio of 0.58 and a debt-to-equity ratio of 436.50. The stock has a market capitalization of C$14.38 billion, a PE ratio of 20.93, a P/E/G ratio of 0.32 and a beta of 0.62.

Rogers Communications Company Profile

Rogers is the largest wireless service provider in Canada, with its more than 10 million subscribers equating to one third of the total Canadian market. Rogers' wireless business accounted for 60% of the company's total sales in 2021 and has increasingly provided a bigger portion of total company sales over the last several years.